Huntington Enters Wisconsin, Minnesota Markets
Huntington officials expect to pick up more than 400 dealers through its expansion into Wisconsin and Minnesota.
COLUMBUS, Ohio — Huntington announced that it is expanding its auto dealer financing business into Wisconsin and Minnesota, with officials saying the company expects to reach more than 400 dealers throughout both states.
“We have top market share in many of the states we serve, and auto dealers in Wisconsin and Minnesota want to be affiliated with a bank that offers our track record of proven success in underwriting, funding, and superior customer service,” said Rich Porrello, director of Huntington Automobile Finance. “This expansion into Wisconsin and Minnesota continues our strategy of providing auto dealer financing into markets where we see opportunity for profitable growth.”
Huntington has hired a team with local market knowledge for each state and expects to hire additional staff to support the sales and underwriting functions of the expansion, according to the company. Huntington will begin processing applications through dealers by October 24th.
Huntington Automobile Finance (HAF) offerings include retail and commercial financing for auto dealers. The company currently operates in Ohio, Michigan, Pennsylvania, Indiana, West Virginia and Kentucky, as well as selected other markets in Tennessee, New Jersey and five New England states.
More Auto Finance
Interest Rates Further Squeeze Auto Consumers
Last month’s hike and a potential second increase this month add to a growing list of inflation woes that could continue to dent overall car sales.
Read More →
Mind Your Process
Consistent steps taken in various aspects of the F&I office can make valuable differences over time, similar to an outline for a best-selling book.
Read More →
Top Five Credit Application Fraud Flags
Compliance audits regularly reveal bad habits that can lead to fraud charges and should have been stamped out decades ago.
Read More →
More Auto Loans for the Taking in August
Riskier categories were on the uptick for the month as lenders loosened access in several areas while balancing out the exposure in another, Cox Automotive reported.
Read More →
July Was Hot for Auto Borrowers
Credit proved readily available for many, but most loans left buyers in negative territory, Cox Automotive said.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Auto Refi Savings Surge
Consumers with 84-month auto loan terms who refinanced saved the most on monthly payments, according to a new report by auto refinancing provider Caribou.
Read More →
Subaru Enters Lending Business
The automaker follows other brands in adding captive financing in the U.S., and says the move will strengthen its position here.
Read More →
Positive Equity Reaches Record High
Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.
Read More →
Dealerships Are Paying the Price for Extended Car Loans
Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
Read More →